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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (27122)	8/5/1998 3:51:00 PM
From: Richard D	Respond to of 95453

She's trying to make a comeback. Let's all will it up.

To: Big Dog who wrote (27122)	8/5/1998 3:51:00 PM
From: HH	Read Replies (1) \| Respond to of 95453

OK , I will. I sincerely think now is a good time to be working on these stocks. I dont think they will blast up 50 % anytime soon but i think this is a good entry point. The rest of the market (mainly big cappers) will fly south for the winter. HH

To: Big Dog who wrote (27122)	8/5/1998 4:00:00 PM
From: Peter V	Read Replies (1) \| Respond to of 95453

I'll help. Just bought some RIG at 33 7/8. I tried very hard to find anything I could about this divestiture of the directional drilling subsidiary, but it's not described in the 10Q or 10K, and TransOcean IR didn't call me back. Hope I didn't go off too early, but the big move to the downside today seemed too good to pass up.

To: Big Dog who wrote (27122)	8/5/1998 5:18:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Capitulation ? or just blindness ? ....RIG down to $34 ? - could break down to $29 ! - who could now say it will not... simply unbelieveable; not that we couldn't get to this level on an intra-day low or for a day or two. But that we have not seen major institutional buying starting ? - It may, but if it doesn't start (institutional buying) soon - then this sector has been marked with the ''pox !'' The ''star of stars'' - RIG - blow's through $10 levels on its way down like a hot knife through butter... I think one can calculate how much of the share price is in ''guaranteed'' contracts through 1999 and even 2000 -- We need some OIL ''AX's'' to internally - within the brokerage houses to stand up and start pounding the damn table ! Someone on CNBC needs to say - hey; you don't need to be buying anything except the oil patch ! Great buying opportunities... but this is a powerfull statement at these levels of the oil driller and service sector NOT being recognized as a ''normal'' alternative or a hedge. Without institutional support in the next day or 2; we must fundamentally change all future views of support levels. A few major OIL's were actually up today - go figure ? I am in a fortunate position that I took substantial profits off the table from the Bank & Brokerage stocks in April; however I rotated a heavy balance into this sector and needless to say - I am back to where I started... However; this is a great place in which to make a stand fundamentally. We should see a bounce in the flagship stocks tomorrow or friday - if we do not ??? - then there is no reason to own any of these stocks any more - just buy/bet on crude oil futures; why take a diluted drug ? - just ''mainline'' and play crude oil futures because profits and earnings or PE values no longer matter - just crude oil prices ! & gee thanks Maria B of CNBC; just asked ''if we should basically wait untill oil rebounds before buying the oil sector ?'' and we all know what the answer was ! It is going to take a couple of major funds to dive in here or this is dead money untill crude rises... Great buying levels for long term oriented which I am & unfortunately may HAVE to be !